Property Investment in the Isle of Man
Population: 85,000 approximately
Average House Price: £347,117
The Isle of Man has a very varied property market. The market offers everything from large country estates right down to compact town centre apartments with family houses both large and small in between. Main Isle of Man property types include Victorian properties ranging from period houses to terraces but there is newer and new build property available too.
The Isle of Man has five larger settlements:
Castletown is in the south of the Isle of Man and has a population of around 3,000. It has good access to the nearby industrial area which provides employment and to Ronaldsway Airport which has regular flights to the UK and Ireland.
Douglas is on the east of the island and is the largest settlement on the Isle of Man. It is known as Doolish in Manx. Douglas has a population of around 26,500 population and was granted city status in 2022.
Douglas is the chief commercial centre on the island and is where the majority of jobs are located. Key employers are in financial services, public services, retail, transport and tourism.
Douglas has a wider choice of property for sale and a wider range of property prices than elsewhere on the island.
Onchan is on the east coast of the Isle of Man just to the north of Douglas. Although it is a village for administrative purposes it is the island’s second largest settlement. Onchan is part of the Douglas urban area and offers easy access to Douglas for commuters.
Peel is on the West Coast and has a population of around 5,400. Peel is residential but is also known as a tourist town and also has a marina and fishing port.
Ramsey is on the north of the island around 15 miles from Douglas and has a population of around 7,800. It has a port and a small commercial sector.
Ramsey has good value property to buy by Isle of Man standards.
Other smaller settlements in the Isle of Man, which are mainly residential, include Andreas, Arbory, Ballaugh, Braddan, Laxey, Lezayre, Lonan, Malew, Marown, Maughold, Michael, Patrick, Port Erin, Port St Mary and Rushen.